Stock in a company has a beta of 1.2. The market risk premium is 7%, and the T-bills are currently yielding at 5.5%. The...

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Stock in a company has a beta of 1.2. The market risk premium is 7%, and the T-bills are currently yielding at 5.5%. The company's most recent dividend was $2.20 per share, and dividends are expected to grow at 5% annual rate indefinitely. If the stock sells for $36 per share, what is your best estimate of the company's cost of equity?











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